Panasonic exits refrigerator, washing machine market in India
Panasonic is calling it quits on selling washing machines and refrigerators in India after years of losses and barely 2% market share.
Production at its Jhajjar, Haryana factory is winding down, and the brand will now double down on TVs and air-conditioners instead.
Panasonic promises customers that service support will continue
Expect high double-digit layoffs, though some employees might get a chance to relocate within the company.
Dealers are getting help to clear out old stock, and Panasonic promises customers that service, warranty, and spare parts support will continue during the transition.
Panasonic's global restructuring plan
This move is part of Panasonic's bigger global plan—they aim to cut 10,000 jobs worldwide and leave behind low-margin businesses.
The focus now? Smart home tech, energy management, and B2B solutions that are shaping how we live (and work) tomorrow.